CheckAlt, a provider of integrated receivables and payment processing solutions, announced today a partnership with LoanPro, the modern lending and credit platform, to expand the receivables and payment processing capabilities available to LoanPro customers, giving lenders a more efficient way to process and reconcile inbound payments across paper checks and online banking bill pay.
While many lenders have modernized their loan servicing platforms, check payments, including paper checks generated through online banking bill pay, often still require manual processing and reconciliation. The partnership helps LoanPro customers streamline check payment workflows, reduce manual work, accelerate payment posting, and gain greater visibility into inbound payment activity.
“LoanPro customers have been looking for a better way to manage check payments without disrupting their existing servicing environment. By partnering with CheckAlt, we’re giving customers a streamlined way to improve operational efficiency while enhancing the overall borrower and back-office experience,” said Charles Sweeney, CRO & COO at LoanPro.
“Modern loan servicing requires modern receivables,” said Jason Schwabline, Chief Commercial Officer at CheckAlt. “Even as lenders modernize their servicing platforms, check payment workflows that support them often remain manual. Together with LoanPro, we're helping lenders expand their payment processing capabilities to reduce manual work, simplify reconciliation, and gain better visibility into payment activity.”
Through the partnership, CheckAlt will support LoanPro customers with lockbox, electronic lockbox, remote deposit capture, and remote lockbox capabilities, helping lenders streamline inbound payment processing and reconciliation.
